Form 4: Orange County Bancorp EVP Michael Lesler Reports Acquisition of Phantom Stock

EVP and CFO of Orange County Bancorp, Michael Lesler, reports acquisition of phantom stock and adjustments to holdings of common stock.

Summary

• Michael Lesler, EVP and Chief Financial Officer of Orange County Bancorp, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The report indicates the acquisition of 882 phantom stock units on February 20, 2025, at a price of $26.99.
• These phantom stock units are related to the Performance-Based SERP and may be settled in company stock upon distribution.
• The filing also reflects adjustments to common stock holdings, including those held directly, through a 401(k), and an IRA.
• The reporting person directly owns 7,472 shares of common stock.
• The reporting person indirectly owns 913 shares of common stock through 401(k).
• The reporting person indirectly owns 2,000 shares of common stock through IRA.
• The filing accounts for a two-for-one forward stock split that occurred on January 10, 2025.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the holdings of a key executive at Orange County Bancorp.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of company executives.

Key Dates

Keywords

Form 4, beneficial ownership, phantom stock, Orange County Bancorp, stock split, SERP, Michael Lesler, OBT